CNBC reports that gold prices could reach $4,000, the CEO of US Global Investors told CNBC Monday. Frank Holmes said: "It's quite easy to see gold going to $4,000." CEO of US Global Investors. Holmes believes rising monetary stimulus is the main reason gold prices can soar to that level. Business Insider reports that Gold broke $2,000 the first time last week, on expectations of a US stimulus bill.
[NFA] House Speaker Nancy Pelosi in an interview with CNBC on Thursday attacked her Republican colleagues for not moving on their new coronavirus relief bill proposal, saying they don't give a "damn" about Americans hurt by the pandemic. Gavino Garay has more.
Gold is on the rise. According to Business Insider, analysts do not see any sign in it slowing down. Investor Barry Dawes of Martin Place Securities said that he expects gold prices to rise to $3,500 in the next 2 years. "What is really significant is how quickly it went through that $1,923 which was the previous high," he said on CNBC. Gold hit its highest ever level this week on a weakening dollar and rising tensions between US and China.
On Tuesday, Tesla announced it will enact a five-for-one stock split on its shares at the end of August. The company has rallied since the announcement. On Wednesday, shares of the automaker jumped 13%. The stock climbed as much as 4% Thursday. The stock split doesn't change anything about the company fundamentally. Business Insider reports the split will appeal to smaller investors.
While spot gold tumbled the most it has in seven years on Tuesday, the commodity whipsawed on Wednesday. According to Business Insider, spot gold dropped as much as 2.6% below $1,900 per ounce before gaining as much as 2% through the morning. Analysts had been warning of gold turning overbought. However, some now view Tuesday's plunge as too steep. T A popular gauge of gold exchange-traded fund volatility, Cboe's GVZ index has nearly doubled over the past month.
IBM is building a cloud for Financial Services. BNP Paribas will come on board as the anchor client for the services. IBM is in discussions with Japan's Mitsubishi UFJ Financial Group (MUFG) to explore how it can adopt the IBM Cloud for Financial Services. Business Insider report that this marks a milestone in the modernization of the global financial industry. IBM Cloud for Financial Services is the world's first product of its kind.
Brooks Brothers announced that Authentic Brands Group and SPARC Group LLC were the winning bidders for the suiting company. Business Insider reports that Brooks Brothers filed for Chapter 11 bankruptcy last month. ABG and SPARC increased its initial offer of $305 million to $325 million. They agreed to keep at least 125 retail locations operating. The group have previously worked together to purchase distressed retailers like Aeropostale and Juicy Couture.
On Wednesday, Tesla stock rallied as much as 7% in early trading. According to Business Insider the boost comes after the company revealed a five-for-one stock split scheduled for August 28. Every Tesla shareholder will receive four additional shares that, when added to their existing share, will equal the stock's pre-split value. The split itself won't change Tesla's market cap. However, it may pull in smaller investors who couldn't previously afford shares.
The future of work as we know it is changing. Silicon Valley tech workers are migrating out of cities as they get the green light to work from home for extended periods of time. CraftWork founder, Jim..